plus the rest of asia is growing.astest growing market, growing 20% a yearfor fastest growing market, growing 20% a year for many years. the youth field you have kind of missed the boat, so to speak a cunning into asia now? it is almost... it almost is not matter. you can produce so much capacity. even though thinks may be slowing, there are many, many people who can still cruise and will cruise who have not. but it has not all been this —— smooth sailing. carnival was accused of washing its hands of the disaster and spent yea rs hands of the disaster and spent years trying to build back its reputation. we learnt something from it, examining it closer. we learnt from any incident that happens anywhere in the world. since that time we have advanced the number of safety systems on ships which we do ona safety systems on ships which we do on a continuous basis anyway. safety concerns did not appear to be dampening prospects, at least a dozen new ships are set to hit the sea this year and profits are soaring at finding ne

we discussed his economic legacy in asia. trump says hello. at possible conflict of interests. good morning, asia, hello, world. it is a wednesday. glad you could join us. as president barack obama prepares to deliver is farewell message in chicago in less than an hour ‘s time, in asia we are reflecting what his eight years in office did for the region. a signature free—trade deal, the pacific partnership will be scrapped by donald trump. i spoke to senior economist. if you look at trade, for examples, trade between developing asia and the us, it increased by a 30% by 2010 and 2015. of course, part of this is explained by the economic recovery but it is a positive sign none the less. the official effort to deepen ties, is the free—trade agreement which will celebrate its fifth anniversary this year. increase in trade between the us and asia and a rise in investment in us business but there is trepidation about the incoming trump administration and potentially his protectionist policies and bringing back these businesses from asia back to the u

to asia.s. should review some of the climate change accords. that was another hallmark of the obama administration's success in reaching a consensus with china on climate change. >> let's move to north korea, though. >> that issue, yes. .hat is another one, of course he would like to see china take a larger role in renting in north korea's nuclear ambitions. the south korean defense ministry had a paper saying pyongyang may considerable on nuclear capabilities and rex tillerson said the united states could no longer accept china's into promises. there he interesting times, indeed. they are going to have a lot on their plate. >> indeed, a lot to talk about. thank you so much, stephen engle's. newsping that breaking moments ago, there he is, lee jae-yong has just arrived to be questioned by prosecutors in seoul. this is known ago, getting mobbed by reporters. the undue part of influence scandal that has brought on the president of south korea. he was widely expected to be summoned but his identi

good morning, asia. hello, world. i'm rico hizon. welcome to asia business report. it's a tuesday.you could join us. we start off with the fast food giant mcdonald's and its decision to sell a controlling stake in its business in china and hong kong, a sign of another company admitting they need help in this huge and unique market. in a $2 billion deal, the chinese state owned conglomerate civic will take a sta ke. owned conglomerate civic will take a stake. coni group will take a 28% sta ke. stake. coni group will take a 28% stake. mcdonald's will be holding on to the remaining 20%. earlier, i spoke to someone and ask them if the sale is a good move for mcdonald's? this will help them a lot. if you look at how mcdonald's has performed in china over the last couple of decades it has done quite well but is still looking to expand further into third and fourth tier markets. they need cash to do that so this is how they can do that without the bottomline taking a hit. has china become a revenue burden for mcdonald's? it has. if you look at the quick service restaurant space in the las

hello and welcome to asia business report. the indonesian government has dropped a number of business partnerships with the banking giant jp morgan chase following the bank's decision to downgrade its assessment of indonesia's equities, so could government decisions like this but the finance sector's ability to give frank and fearless advice? earlier i spoke with our asia business report bonded karishma vaswani and asked her if the move was unprecedented. ina move her if the move was unprecedented. in a move can, that is what indonesia has done with regards to some of the business partnerships it has with jp morgan some of the business partnerships it has withjp morgan chase and this isn't the first time indonesia has punished the bank for what it believes are unfair and in the words of some finance minister ee officials there's been a lack of credibility in some of their assessments, jp morgan chase assessments, jp morgan chase assessments of indonesia's equities. but the fact there's been such an outcry from the indonesian g

the value is in asia. there are still good opportunities outside of asia.ulie: within asia, particularly emerging markets, where are you looking? >> structure -- actually, on a structural basis. we think the capital account is going to be tight. the economy has kind of reached the bottom. there is a boost to the property market. commodities are reasonable. premium of asia has come in a lot. domestic investors will put money back into chinese equities. that will be positive and we will get benefits. julie: if the dollar does begin strengthening again, what effect does that have on your china strategy? >> we are factoring in a b.ronger dollar, weaker rn that sort ofget revaluation hit. if we have an orderly devaluation, we are expecting the rmb to be weaker. julie: thank you, we appreciate your time. alibaba at 7.5 billion dollars to its sales forecast. ♪ "daybreak asia." alibaba has added $7.5 billion to its market value. reporterng in our tech who has details on this. we're specifically is the growth coming from? reporter: it is mostly coming from emerging

good morning, asia. hello, world. welcome to asia business report. it's a monday.president donald trump's immigration policy has nominated the headlines this weekend. but he also had a phone conversation with the russian president, vladimir putin, aimed at clawing the frosty relationship. —— thrawing. they did not discuss lifting sanctions, apparently. earlier, i spoke with someone to see if the sanctions have had a major impact on russia. international trade has dropped down from 25%. that is like $136 billion, quite damaging. as a result of the sanctions, has this drawn russia into the arms of other trading nations like china and countries here in asia, for example? with china, it is actually a very big front for international trade. 0ver 90 billion us dollars in trade and import. the us was one of our main trade partners for the last four yea rs. trade partners for the last four years. in general, with the trade with russia and the us, it is about 4.4% from all over international trade. very quickly, going forward, with, obviously, the new leadership in charge i

it was famously known as pivot asia and the tra ns—pacific partnership was famously known as pivot asia key pa rt the trans—pacific partnership was a key part of it. now that the next president will kill it, what legacy does he leave behind? it was supposed to be the cornerstone of strategic engagement in asia. the trans—pacific strategic engagement in asia. the tra ns—pacific partnership was strategic engagement in asia. the trans—pacific partnership was one of the key non—military aspects of asia for0bama. it the key non—military aspects of asia for obama. it leaves a gaping void in us engagement in the asia—pacific. with donald trump looking like does not have a rival initiative, china will look to push its leadership role. i think free trade has a good chance of being pushed on business opportunities. could this actually backfire for donald trump's make america great again initiative? it is a great opportunity for china. they cannot believe their luck that the trans—pacific believe their luck that the tra ns—pacific partnership has believe their luck that the trans—pacific partnersh

seems to be hanging on the sentiment in asia.-'s go with the open in so in korea, as well as tokyo. wall street playing the tone for asia, so we did receive the -- see the s&p 500 fall below a record high. this is coming down to the slump in oil prices, which dragged on u.s. stocks. that is weighing on u.s. equities. that is perhaps feeding into the asian session. let's look at how shares opened and tokyo, coming back online after a holiday. first, let's take a look at what's happening. u.s. treasuries climbed, as well as gold overnight. the 116falling below mark. nikkei 225 opening lower one third of a percent, continuing andall after thursday friday. korean stocks extending declines after falling on monday. australian stocks down 7/10 of a percent, after being a top performance equity market on monday. a second day high for new zealand, the only bright spot in asia. betty: what about australia? australian shares are taking a bit of a beating. reporter: stocks listed in sydney snapping a five-day advance, banks and energy leadin

our vision of asia -- is his vision of asia. have theire let them own vision and forget about our talking about our interests. every time we get somebody on the rogue ram they are always talking about our interests. me what myasked interest is or anybody that i know throughout the united states what their interest is in the foreign governments. i haven't no interest in any of those countries. they are just organizations, corporations who go over there and make money off of those people. you have been dealing with them all this time and not accomplished anything. the world is getting worse. maybe we should put some 10-year-old babies in their on both sides and there -- and they would sell everything. guest: my own view here is that the united states does have interest that extend beyond our borders. this is a world in which we recognize interconnections ever since the country wassince the . we have recognized the importance of europe, the middle east and south east asia particularly. and, over time to understand the , orous south

more attractive against other hotspots in asia? what does this city offer?pan of 50 years, malaysia has gone from a country that was receiving assistance from the world bank to a country that is actually providing support through the world bank to other developing countries. this has been a remarkable growth. this is an economy that used to aly on rubber and now is diversified economy d it has new growth to reduce poverty. it is a very important lesson for other countries who want to learn from the malaysian experience. host: the city as well on its way to becoming a high income nation by 2020 and competitiveness from the regional market has propelled malaysia to be creative and innovative when it comes to business. the world recognizes the potential within the region and the opportunities it presents as a single market. despite a very challenging global and domestic environment in 2015, the malaysian economy recorded a growth of 5% and malaysia remains amongst the faster growing economies in the region. 2016 has also looked positive with growth figures beat

rex tillerson once a stronger presence in asia, does he not?t seems to be putting it out anyway. >> it is not necessarily happening according to rex tillerson. he says the south china sea flashpoint, and china's moves on what has been reported to be weapons on this reclaimed claims -- rexhina illegaln calls those actions and extremely worrisome, of the russia's taking crimea. -by u.s.d by fewest senators whether we should take aggressive action to china, this was his reaction. >> we need to make sure that access to those islands will not be allowed. he mentioned china in any other facets. he criticized china for stealing intellectual property. he said he is not opposed to the trends pacific partnership, which was a cornerstone of the obama administration, in his pivot to asia. rishaad: you think you would be agreeing with his boss in some way. >> she said that he shared some of his concerns. but maybe not in the purview of the state apartment portfolio. he said he had some reservations toward that. climate change, he said that needs to be revie

ofs is the second hour "daybreak asia." i am shery ahn in hong kong. anchor: it is just after 7:00 p.m. in new york. japan finally coming back online for 2017. we already had our first day of trade and it looks good for the bulls. you now have the nikkei 225 open higher. it looks like this would be the first time that the japanese market are opening higher. it is a big deal and may set the tone for japan. >> it does. it is up for tens of 1%. of course, -- up .4%. do withe, a lot has to the trump reflation trade. a lot of people have said that as we see a trump postelection rally, japan would be the biggest gainer. trading up start almost 1% and continue to rally. let us take a look at the markets with david ingles. david will have the details of how things are shaping up. david: first off, i can say, they don't look very excited in tokyo, given the fact that in 2016, they just managed to an higher f the year, which it that yearly streak to 2016. the japanese have a very interesting way of expressing, i guess, happiness and excitement. 1.1%, a bit of pa

much more ahead on daybreak asia.e on trump -- talking trump and trade in our exclusive interview with the vietnam prime mister find -- the vietnamese premise or. this is bloomberg. ♪ betty: this is daybreak asia. i'm a dilute. yvonne: vietnam's prime minister is holding out hope donald trump will reconsider his opposition to the transpacific partnership trade deal. asiaoke to our southeast correspondent and says he is a whole the administration will see the benefit of the treaty. >> i have had a meeting with u.s. business leaders and met with secretary kerry of the united states and the message i see is i believe the new administration of the united rates will reconsider its perspective on the tpp and try to achieve a new generation agreement that will benefit all parties concerned. without the tpp in place, it does not mean all the countries will withdraw themselves from the world stage and reduce cooperation. the remaining members will work together to find a way to thefit everyone, even if tpp is not ratified by t

this is daybreak asia coming to you live from u.s. edge asia headquarters. i'm betty lu. >> it's just on 7:00 a.m. here in hong kong. es, happy 2017 to you all. a lot to look forward to, betty. betty: indeed. it will be starting off with a big bang essentially with president-elect donald trump taking office and a lot of people wondering what he promises is going to be what really pans out. that is going to be a lot of the conversation going forward n the next 6 to 12 months. shery: yeah, betty at least when it comes to global factories, manufacturing has been doing well and ended 2016 on the high. we had china's stablizing p.m.i., manufacturing data, and this morning we also had the manufacturing index just gaining for another month. take a look at this market right now trading in asia. slightly on the upside after falling in the last session. in the last session of 2016. the australian dollar though gaining 0.2% after two days of losses. a few markets remain closed in the asia pacific today. japan, new zealand, and thailand are still celebrating the new yea

sherry: that is the word from asia. we are seeing words from asia looking a little bit mixed.chmark. let's check in on the markets now. phie: with that resilience, we are seeing asian stocks bounce back from a two-day drop. led primarily by text stocks, we are seeing that on the clock speech. samsung is picking up the lion share. are up about 9/10 of a percent. heading for the highest gross since june, 2015. they add to 22 point for the index. -- they added 22 points for the index. china is leaving the advance in terms of points. this debuted in shanghai today. the stock was suspended after it search by 24% daily limit. that is the transfer debuts in this market. australia, a weaker down. away.ell this one is deepening its drop. this is after it downgraded its proper guidance. there has been an advanced in gold prices. the market is closed for lunch. we did have a good day. chief said that they will monitor the impact of a trump administration. also, his pledge to make america worries aboutng protectionism. we are seeing japanese autos .all sherry? sherry: thank you selfie. --

bloomberg markets asia is next. we are counting down until the market opens in asia.ndustrial production, coming up next. this is bloomberg. ♪ rishaad: 9 a.m. in singapore and midday in sydney. 8:00 in the evening on wednesday new york city. i'm rishaad lummis in hong kong. this is "bloomberg markets asia ." salamis.shaad markets in the asia-pacific extending the global rally. the dow totalling 20,000 for the first time ever. 0%trochina, net income fell 8 last

this is bloomberg markets: asia. rishaad: the last days of 2016 showing china closing the year in robust fashion. we will have the first survey of the new year later this hour. singapore expanded more than anticipated in the fourth quarter, although it still showed the slowest growth in asia. a brand-new trading year gets underway in hong kong and china in just under 30 minutes. singapore and taiwan just starting theirs. for a look at what it's going on, here is david. david: the regional benchmark is flat. if you take japan out of the equation, of course. a positive start to 2017. that being said, australia is at the highest level so far this year. tos goes all the way back june of 2015. that market momentum seems to be filtering through into 2017. we are not looking at any sort of volume there. at this time of the trading day. 2031 is the level for the south korean benchmark. japan is closed, but futures are's ill trading. still trading. singapore 120 points to the upside here, .9%. as soon as japan is open, we wil

asia headquarters in hong kong.ts: asia. ♪ rishaad: japan leads asian markets below and the yen spiking after trump talks down the dollar. theresa may gets explicit about brexit. china's president ck

asia is expected to be a key focus for asia is expected to be a key focus foertrump and he asia is expectedus for mr trump and he is going to take a much more tough line on china. he is going to withdraw america from the tra ns—pacific partnership. earlier, i asked what it will mean for the trade deal if the us is not a part of it. a think ttp without america is pointless. even though you have some countries saying they will push ahead, i don't see there is much benefit from that unless america is going to take part and it's quite clear they not going to. and beazley the signal is sent to the rest of the signal is sent to the rest of the world is not a good one. it sends a signal that the us is becoming protectionist. —— and the signal that is sent. trump seems to see it as a zero—sum game. if you win, i lose. see it as a zero—sum game. if you win, ilose. it see it as a zero—sum game. if you win, i lose. it implies a more aggressive approach against china. these are the two worlds most largest economies. any souring of the trade relationship will have repercussions elsewhere. he said he wil

bloomberg markets: asia is up next. we are counting down to several more market openings in asia.ry: we're talking about hong kong in just a few minutes. market is gaining again. withll have the latest rishaad salamat on bloomberg markets: asia. that is next. ♪ david: did you think you would grow up to big the ceo of a large company like pepsi? indra: it is a dream come true. david: when you get advice do you ever listen to it? indra: you never know if a nugget can translate into a success for the company. david: not long ago an activist showed up. indra: my job is to make sure the company is performing very well. david: suppose somebody has a product from a company that is based in atlanta and you see it in their refrigerator, what do you do? indra: i let it be known i'm very unhappy. >> would you fix your tie, please? david: people wouldn't recognize me if my tie was fixed.

this is a break asia. i'm betty liu in new york.vonne: a quick check of the latest business flash headlines. we watching toshiba shares after the company said it seeking $4.4 billion to cover its nuclear write-down. they are selling a 20% stake in his memory chip operations. potential investors include canon and tokyo electron. toshiba's facing pressure to secure investment for a british nuclear power project. the chairman of foxconn is said to be weighing a joint assessment, saying the facility would cost more than $7 billion and could create 50,000 jobs. he's also saying while u.s. protectionism is inevitable, that american consumers may not be willing to pay higher prices for projects in asia and at home. a medical laser maker said to be scoring strategic options, including a sale is -- as the interest in the technology goes up. it value around the alien dollars. it's attracting interest from companies with an interest in aesthetic treatment. yvonne: ahead of one of the u.k.'s biggest private equity the terra firma chairman said

and maybe southeast asia and other parts of asia.have you in the studio. jixun foo, thank you. coming up, the imf says donald trump will give a modest boost, but remains a big unknown to the economy. we will go over that report, next. this is bloomberg. ♪ yvonne: welcome back. you are watching "daybreak asia" . the imf has an update to its world outlook with a cautious stance on the policies of u.s. president-elect donald trump. here is the latest from ramy inocencio. what is the imf saying? comes to global growth, they are keeping the number unchanged for 2017-2018, but some positivity for the u.s., china, and the u.k. for you can see the numbers global growth, 2017, 3.4%, 2018, 3.6%. revision, a minor uptick of one percentage point, 2018, .4 percentage points up to ..5% this is cautious optimism when it comes to the policies of donald trump. we don't know what he will be doing when it comes to china in terms of potentially calling china a currency manipulator. he has recently come out against nato as well as the eu, so ripple effec

much more ahead on "daybreak: asia." this is bloomberg. ♪ yvonne: this is "daybreak: asia ." ceo of one of china's leading property developers says she sees a continuing battle this year between rising housing prices and regulatory attempts to rein them in. she also says some lenders are beginning to worry about the possible impact of china's control on capital flows, but she remains upbeat. >> china had another good year of real estate 2016. almost always, you see real estate price goes up, then the government would come out with a very strict control on the price. no surprise, towards the end of last year, the government came out with very strict controls. this year, we will continue to see this battling between the markets, that the price wants to go up and the government trying to control it. betty: we have a guest coming up, mitch roschelle from pwc, who is looking at the global real estate markets. some of the chinese markets are still high. yvonne: he says shenzhen is one to watch. we will see if these governments can put a cap on those prices. up next, automakers crit

bloomberg markets asia. prosecutors consider

of -- ine been a lot asia. of the asians to do consolidation is that they realize they cannot survive on their own, so there have been consolidations within the japanese shipping industry, consolidation in china. we have seen a restructuring in korea. sometimes working to gather can be better in a very competitive landscape. all of thish restructuring over the last year or so, has that been able to do anything to put the shipping industry on the road to recovery? >> there is a lot of hope in the market right now that with fewer attempts by other shipping lines to undercut each other on freight rates might end and we might see some recovery in rates. that could send a positive signal for the industry, becoming a bit more profitable or cutting losses. the only real problem right now still is the overcapacity issue. that will not go away anytime soon, so it comes down to how disciplined the shipping lines will be after all the consolidations. rishaad: right, thank you much very indeed for that. deals with huge m&a

i am this edition of asia business report. iam rico this edition of asia business report.m rico hizon. this edition of asia business report. iam rico hizon. we this edition of asia business report. i am rico hizon. we start off with indonesia where the government has done an about—face on its ban on raw mineral exports. indonesia will now allow exports of more unprocessed minerals, a big change from two years ago when the government banned most exports to force mining companies to process minerals within the country. the president, joko widodo, explained his decision. translation: we need to make sure that our natural resources benefit our own people. that's the founding principle, and oui’ that's the founding principle, and our mining needs to be sustainable and done with respect for the environment. here is more now on the change in the ruling from our indonesia correspondent. joko widodo they're talking about the environment, sustainable mining. it is very unclear how these changes will actually protect the environment. what this is really about is improving the economy

this is bloomberg. ♪ asia." is "daybreak: yvonne: a quick check of the latest business flash headlines. a possibility of a strike at a copper mine in july -- chile. workers are overwhelmingly in favor of action. the boat is continuing, but a union spokesman says miner -- the vote is continuing, but a spokesman says miners are rejecting the offer. they have rejected calls for a 7% rise and a bonus of about $38,000. betty: fortescue metals says second-quarter shipments helped oteady its costs thanks t productivity and efficiency changes. they shipped 42 million tons in the three months ending december 31. net debt dropping to $4 billion, with the target $3 billion by july. trading -- iron ore is near its highest level in two years on record demand from steelmakers in china. yvonne: boosted by its lng facility in queensland. revenues doubled to $411 million u.s., although that was slightly below goldman sachs' forecast. they have benefited from higher energy prices. betty: as we heard moments ago, acting attorney g

itas not given a chill wind with the asia-pacific -- tailwind with the asia-pacific. 1.4 trillion yened imports compared to the year before. that is widening 38% from a year ago. much impact. we have -- not much impact. we are driving the overall indices in the session. in hongk not trading kong. weaker againsten a basket of currency. let's find out more. >> yen strength dragging down. health care is the biggest drag with declines of 3%. japanese pharma stocks not feeling the love after donald trump's remarks about the drug pricing in the industry. as'

this is "bloomberg markets: asia".me of day when traders in japan have an hour off. here is sophie. sophie: investors taking stock of what we got overnight, fed meeting minutes more dovish after the rate hike in december, feeding into that dollar. mixed picture and asia for now. the nikkei 225 down .25% as we head into that break. the hang seng up 1% as china listed stocks reversed losses we saw on wednesday, retro china nowothers in the green for -- petrochina and others in the green for now. southeast asia, vietnam joining the fray, marginally higher. the japanese stock rally fizzling as the yen gather strength. a closer look at japanese carmakers, a sector that has seen a decline on the nikkei 225. one of those dropping in that falling in the auto space, even after december auto sales for japanese carmakers in the u.s. beat estimates. 2%.ta growing this afternoon, we expect japanese vehicle sales for december, and carmakers a big and others.ford toyota saying it will take years before we see level five autonomy. i w

yvonne: this is daybreak asia.: hundreds of millions of celebrator's are on the move. >> a greater number than ever of chinese are looking to fly the coop. around 6 million are expected to pack their bags and take off from airports like the one behind me this year. that's almost the population of denmark. be flying to countries around the world. top of the list, thailand. this is good news for china's airline. they have been raising prices and booking extra flights to make sure they have capacity. it is also good news for other nations because chinese tourists and outspend their american counterparts. expected to spend about 255 billion dollars a year on travel by 2025 compared to $137 billion in 2015. travel and tourism are key to the chinese government. they hope the yuan will continue to fly high in 2017. onnne: let's get more chinese travel plans. joining us is the cfo of the travel booking site. not makingese are the annual pilgrimage to grandma's in shanghai anymore. travelk on the leisure tour segment, espec

good morning, asia. hello, world. thank you for investing your time in asia business report.ico hizon. it's a tuesday. we start off with us president donald trump. he has formally pulled the us out of the tra ns—pacific partnership, has formally pulled the us out of the trans—pacific partnership, a major trade negotiation between 12 countries. it is part of his campaign pledge of america first, safeguarding emre can jobs and manufacturing. that is a message he told world leaders. we have more on what he called the captains of industry. thank you very much, everybody. donald trump assembled a who's who of the corporate world around the table were the bosses of more than ten multinationals in america, including these on your screen, were also there. and also, mark fields, the chief executive of ford, which recently cancelled plans for a ford, which recently cancelled plans fora1.6 ford, which recently cancelled plans for a 1.6 billion dollar plant in mexico which donald trump criticised for sending jobs abroad. and he repeated his threat to any company thinking of moving produc

have a look at asia. the five-day chart, asia-pacific equity index here, to get some scope here, 139 is the five-day chart. the have come up for three state days and a higher for the week. volumes are not there. 142 was the high. last year, 112 was the low. we started off the year at 135. have a look across assets, this gives you a sense of what markets are doing at the moment, because if you take japan out of the mix, which is getting weighed on by the japanese yen, it is not as bad. most stocks are down, but samsung is lifting the tide. at the pound, it is not so much a question of whether there is downside. it is how much downside there is. we are at 118, and that is sort of going to be the floor, dependent on what the speech is going to say. the risk or the downside from that is really, if it is a thanr town -- tone projected. this gives you a sense of the risk. when you look at the bloomberg dollar index, nothing is happening, flat across the currency markets except for the south korean wons. thanks

you are watching daybreak asia. this is bloomberg. ♪ >> this is bloomberg daybreak: asia.ned by hang lung chairman ronnie chan. we want to talk about china and your real estate plans. do you plan to purchase more land and where? maybe in smaller cities versus larger? >> we are looking for more land. when you say smaller cities, julie, size is relative. a smaller city in china is 5 million people. we look for cities that are at least 5 million people. be economically vibrant. julie: what are you looking for in terms of land purchases for 2017? >> the kind of project we do our huge. can be a couple billion. how many of those can you do? each one of those, 5 million square feet. these are very large and not just large, also the quality is world class. the price per unit is going to be high. julie: ronnie chan, thanks for your time. chairman at hang lung properties. that does it for us. to come.re bloomberg markets: asia is up next. counting down to more market opens. yvonne: great to have you. thanks for joining us. ♪ inshaad: 9:00 a.m. singapore. i am coming to you from bloo

if the offer goes through, it would be the largest tech ipo out of southeast asia.ight, a quick check of commodities, gold, brent, copper. there we go. a snapshot of what is happening. gold on the way up. getting up to the 1200 level there. our next guest says the road for commodities will be a bumpy one. he is normally based in frankfurt, but with us now. , ice we talked last time can't see how many twists and turns have occurred for the metals complex. it is probably one of the most difficult asset classes to get a grip on. >> all the commodities in fact, but last year, it was a good one from the forecasters point of view because most of the moves were more or less logical. last year, one year ago, the oil price was trading below $30, and our forecast of $50 plus -- rishaad: a lot of people were thinking $20 and sub $20. >> definitely it was logical. the price moves were logical because oil wasn't performing anymore as a political instrument. it was trading on demand and supply another things that no normally analysts can grip on. this year will be bumpy and diffi

engagement is indispensable in securing peace and prosperity in asia. japan's self-defense minister said she'll work with the u.s. to insure that a plan to relocate thousands of marines goes smoothly she was in guam to inspect port facilities. japan and the u.s. have an agreement to transfer some of the u.s. marines currently in okinawa. it will start in several years with around 4,000 being reassigned to the u.s. territory. japan will cover some of the costs. >> translator: this transfer will reduce okinawa's burden in hosting u.s. military facilities. that is one of the top priorities of prime minister abe's government. i was able to see with my own eyes how the plan is progressing. i will see to it that japan cooperates with the u.s. to expedite things as much as possible. >> she also expected the u.s. military's advanced missile defense system called thaad. inada says the defense ministry will study ways to bolster missile defense systems, including the possibility of implementing thaad. >>> residents in japan say they have concerns about osprey deb

things are running fairly strong in asia. will be people who are skeptical in terms of rate rises. with of the fed is saying there be three rate rises, it is better to come in slightly high. rishaad: be is that overpromisig and under delivering? you do not want to say there are only one or two in the market comes with three. that is a bad surprise. the price could come at a higher level. if they do not reach that level it is not the end of the world. in asia you expect the inflation to be fairly low. in places like china it is not needed. will beult, we think it fairly low for the next couple years. ppi numberhat yesterday muddied the waters a bit. what has been happening with monetary policy and fiscal policy, some have argued on this program that the market was priced to perfection. dynamic.s changed the six months ago, yield was expensive, risk was cheap. but it has leveled off a bit. >> u.s. equity markets are currently priced to perfection. .5 timesnow 17, 17 earnings, and when we look at places like japan and europe, on

this is bloomberg. ♪ shery ahn: this is they break asia. -- daybreak asia.e dollar fell and -- ahead of the u.s. jobs report, our next guest says he purports -- perverse equity over bonds. prefers equity over bonds. one of our guest said he felt like there were animal spirits finally coming back into the market. not a market driven anymore, talking about the u.s. market but could apply to others. a sense that it is not about monetary policy but about cyclical growth. that is what is driving the market these days, would you agree? >> i would agree that we had inn return of animal spirits the u.s. and that you are seeing a pickup in the global economy, you have to look at the pmi numbers from december startg this year on a better footing than we started last year. a lot of those numbers well above 50. in that sense, we are seeing noe inflation, more growth, more gdp around the world is higher and that will feed through into a more positive outlook for corporate earnings and the equity markets. my reservation is about how much of those animal spirits were justi

we are looking at asia., we will start looking at latin america, brazil, argentina, so we are expanding in all these markets. yousef: what about the key concern in terms of lack of growth? this part of the world is still struggling and coming off the back of lower oil prices, which austeritylebrated measures to regions or countries are you concerned about in 2017 that is not likely to deliver in terms of your expectations? >> our business model has changed dramatically. freight forwarding, solution supply chain, used to be 55% of revenue. now, 75% is small factory business. that business is growing globally. that is not challenged in terms of getting the customers. the challenge is having capacity at a cost-efficient pace. so that is what we are building our last mile capacity to address these opportunities. yousef: what about the regulatory framework in this part of the world. you are based out of dubai and have these global ambitions investing into different parts of the world. any regulatory hurdles you a

further increasing its clout in the asia-pacific region?tpp, rico, but the renegotiation of nafta, that would have a huge impact onjapan and the government is very concerned about that. there's talk of china stepping in with this thing called rcep, i'm not sure what it stands for but it's an asian regional economic cooperation group led by china. i talk to senior japanese government officials about it and they say it's nothing like tpp, not of the quality of tpp, china might want to do it butjapan at the moment is certainly not interested injoining china in a trade pact, it still wants to join the us. with japan being impacted by tpp and potentially renegotiation nafta, how could this affect japan us trade and political relations?” think the attitude at the moment is everybody is watching and waiting to see what happens in the coming months, no one is quite sure whether this is an initial barrage from president trump or whether it will continue. the immediate impact on japan is to be very positive and to announce new investments in the unit

bloomberg markets: asia is coming up. more several market opened in asia.heir interesting. we saw a friday flat one in wall street but in asia, a pretty solid start for 2017. the regional benchmark having the best january. this is bloomberg. ♪ rishaad: 9:00 a.m. in singapore, 8:00 in the evening in new york. i am rishaad salamat in hong kong. this is "bloomberg markets: asia." ♪ rishaad: toshiba is among today's winners. volkswagen closing in on a u.s. emissions deal with a guilty plea and a $4 billion fine.

best," the stories that shaped the year in business across asia. china's economy showed signs of stability even as growth sometimes seemed to sputter. >> i think we have a hard landing in the stock market already. >> the old economy drivers are back in action. it is the new drivers that are stalling. angie: japan's leaders went back to the stimulus well again and again with mixed results. >> we have to continue our accommodative monetary policy. >> i think japan has become this sort of test tube for the rest of the world. angie: it was an eventful year for many asian companies, from smashing successes to corporate crises. >> this is a huge deal. >> it is a combination of one debacle after another. angie: and asia made its mark on global markets as economists reckoned with the region's ups and downs. >> when the leaders say we want 6% growth, they get 6% growth. >> you can't have your balance sheets grow faster. angie: join us for a look at the best of 2016 straight ahead on "bloomberg best." ♪ angie: hello, i'm angie lau. welcome to a special editi

ramy: you are watching "daybreak asia." haidi?"the united date, pouring $1 billion into plant in michigan, expanding the jeep lineup and adding 2000 jobs. says it willer include the dodge ram truck produced in mexico. donald trump has but have you pressure on the auto industry to bring jobs back to the u.s.. they plan to set up t manufacturers inw latin america to make button -- two manufacturers into latin america. they expect the foreign electric bus system to turn profitable and it is pushing into the production of electric monorail. at least 19 people have been killed in widespread flooding across southern thailand. 10 provinces are underwater with three quarters of a million people affected. the interior ministry says plantations have been damaged. holiday resorts in the gulf of thailand have been hit. the storms are forecasting dry out this week. an iceberg more than 5000 square kilometers is about to break away from antarctica. rift grew by 19 kilometers. larsen c is breaking up due to see currents. currents.he -- sea it mak

and china in terms of influence in asia. right now, it looks like according to one commentor that the u.s. has put its own horse in the horse race out to pasture. rishaad: we also got trump meeting with u.s. business leaders to talk about import taxes and regulations. what do we know? ramy: in terms of import taxes, trump wants to use that as a togel or a stick in order get u.s. companies do not send their businesses overseas. take a listen. company thata wants to fire all of its people in the united states and build some factory someplace else and thinks that product is going to just flow across the border into the united states, that is not going to happen. they are going to have a substantial border tax. ramy: more rhetoric as donald trump, now we are used to hearing from them. you see around the table, ceo you on mosque from tesla, also the dow chemical ceo, johnson and johnson ceo, lockheed martin. a lot of who's who in terms of business companies from the u.s. donald trump saying, stay in the united states. he also pro

in you also have a program asia, south east asia, they are very open trading economies which show impactave places like the philippines which receives a lot of remittance of ex-pat community in the u.s. onpared to mexico, it is not the same scale, but you have countries in asia -- china is this different story. china is more a bilateral issue that will, the trump presidency will and already has commented on that they will take head on. yousef: we want to go back to political volatility. key function. i have shown the ratings we have had over the last week and in terms of the year, 2016. you get all the different details of the ratings. what i would like to know from you, we have quite a lot of elections. 2016 was rough for europe. how much will this be on your radar? how much concerned are you that the integrity of europe is going to be even more at risk? moritz: we have brexit which doesn't start for real. 2017 is when we see the real action. that is one big factor to look at. then we have big elections in europe, the biggest of them all is france. it is so big not only because of the c

hello and welcome to asia business report.res of japanese car maker toyota are down1.5% shares of japanese car maker toyota are down 1.5% right now after tumbling 3% earlier this morning. this comes after president—elect donald trump tweeted that if toyota goes ahead with plans to build a new plant in mexico, especially for its corolla car model, instead of the us, then it faces a big border tax when it ships cars north. toyota announced in april that it would build a $1 billion macro —— carolla factory in mexico. i asked if there had been any reaction to that latest tweet. toyota was quick to respond to the latest tweet by the president—elect and they said quickly in a statement that they employ someone and 36,000 people here in the united states and that the production in the united states would not be impacted by this facility that they are planning to build in mexico. they also talked about just how many build in mexico. they also talked aboutjust how many millions of dollars of us investment that the company brings here,

in asia especially. tricky, japan, asia, africa, ethiopia. china has much less of this to call on. they are both starting from way behind the west and the soviets doing the job. they build institutes, journals, they send people to train. i be late 60's and early 70's they are better. a lot more asians and africans studying in the soviet union. they get better at it as time goes on but they still have certainly the problem and that there is a doctrinal element of understanding. thets of understanding islamic world of you don't have an understanding of religion. for some people, not for everyone. the soviet reaction to the iranian revolution is fascinating. the chinese are further e-. a lot of what the chinese are doing when they develop institutes in the 1960's as they are translating scholarship from elsewhere as opposed to producing their own. so china, in 1966, everything is shut down for about 12 years and that makes things worse. so in that sense, this up inside an advantage. they have an advantage in this advantage help them. the americans have an advantage of this service. a

so a mix day in asia so far. we have the likes of takata oday, which is helping to boost the picture for japanese shares. the best performer in the region so far this morning best ey are the winners in asia since trump's win. but over in sydney, we do weakness there coming about .8%. indonesia looks to ease bands of nickel exports. negative for producers in the region. we have that playing out as sumitomo,likes of the over 5%, given moves are negative for the industry. we have retailers on the rally, after beating third quarter profits and a quick look at what's going on. .4%.ospi down given what we saw, of course, with samsung's air, questioninghour related to the bribery probe. that's the picture so far. thank you very much. let's get up to speed with what's going on with the in the news to lines, let's get it sydney and heidi. >> as we mentioned, takata shares are some of the best tokyo this n morning. currently looking like they 16.5%. by a massive the surge comes on reports that the company is close to eachi

plus how the election of donald , trump has already had an impact on asia.aders share their thoughts on doing business in asia in 2016. >> china welcomes foreign investments. so other countries should also welcome chinese investors. >> this is bloomberg. ♪ ♪ rishaad: welcome back to this special edition of "bloomberg best." our review of the year 2016 in business across asia. i'm rishaad salamaat. volatility caused by global uncertainty was a consistent theme for investors during the past year, and along with brexit referendum and the u.s. presidential election, concerns over growth in china regularly rattling the market. we spoke with business and political leaders and got expert perspectives on the world's second-biggest economy. here is a sampling of those conversations. >> china recently had its national people's congress. there was some concern that the chinese government is too focused on stimulus and growth at the expense of reforms. what is your take on that? >> we believe china will continue to grow, number one, and our assessment at the moment is 6

this is "bloomberg markets: asia." ♪ rishaad: toshiba is among today's winners.olkswagen closing in on a u.s. emissions deal with a guilty plea and a $4 billion fine. questing the cartel, three currency traders charged with using a chat room to rake foreign-exchange prices. ago, before we get underway in hong kong and china. singapore, taipei, and kuala decoupling up through what happened in the u.s.. again struggled to get to that 20,000 level in the dow. >> after what we saw in wall street, in asia we're headed for the best january.